Swiss watchdog FINMA requires banks, insurers to disclose climate risks | Reuters

Large Swiss banks and insurance companies will be required to provide qualitative and quantitative information about risks they face from climate change, Swiss financial watchdog FINMA said on Monday as it released an amended publication here on disclosure.

“Banks and insurance companies are required to inform the public adequately about their risks,” FINMA said in a statement. “These also include the consequences of climate change, which could pose significant financial risks for financial institutions in the longer term.” (Reporting by John Miller; Editing by Michael Shields)

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